Looking at the marketing mix, normally it is said that four parts are involved in it. They are mainly product, price, place and promotion, which are being used by the company. If we discuss then we come to know that the company is playing very smartly and the promotion is good as they have demanded the customers for the pictures and it will be the win-win strategy, as they will be advertised also.
However, the product discussed is the socks and the underwear that needs to be advertised in here. Further, the place they have demanded is anywhere, more specifically any sports surrounds the picture should be. The company is advertising on the facebook to gain the brand name and they are successful as well. Now discussing the price, the product is not so expensive, it can be available to a common person and he can enjoy the benefits.
Product & Brand Management
If we look at the company’s brand equity, we come to know that they are using the help of facebook majorly in the advertisement and to engage the customers. The customers and the engagements actually make up the brand image in here. They are unable to go in each area and advertise, that is the reason they have used the online tool in here and that is the reason they are using online marketing via facebook so that they could get the access to all over the globe. We can see these specific details in the article that how they started the campaign and requested customers to send their pictures with the company logo so that they could advertise it on the facebook pages.
Here if we look into the details we come to know that the company actually requested the customers to lower their pants and the reason is that they want to show the world the logo of the company and the main point that how people is using that. We can see that the logo can be seen on the socks and the underwear of the clients and they are showing the products that can be advertised in this way. Here the point for doing this that they want to show the world that people are using their product and that is the reason the company is increasing their customers.
Consumer Behavior – Learning Theories
If I was the marketing in charge for the company then maybe I would use this technique, however, there are some other ideas in my mind also which can be implemented in here in order to increase the brand equity. Looking at the classical conditioning in the mind, I would use that pictures for the learning mechanism for the customers infect. However, the best option could be that not to take off pants and have a click, they can do it without it as well. This needs to be narrow down so that the people who are not willing to do so, they could also participate in this activity.
There is a strategy in my mind that I would implement in the company that I will had an estimate the number of a customer on an average or the rough estimate. The good thing will be that they will be given a gift from the company and what they need to do is to share it with friends or family and then they will also receive the gift from the company and they will receive some products from the company. By doing this the awareness and brand equity will increase rapidly.
The way of promotion that has been described in here is the branch of instrumental conditioning. The point here is that it deals with the behaviors of the customers and to increase the brand equity the promotion style that has been given actually influence the behaviors of the customers and that is the reason we can say the instrumental conditioning is the best so far.
Innovation & Branding
In my opinion, the new move of the star bucks is great and this needs to be in the market long ago. The reason behind it is that they are the market leaders, with good brand equity and therefore it can be seen this product needs to be in the market from day one. Looking at the category, we can say that maybe it lie in the discontinue category. The reason behind that is it is not an ultimate thing, which needs to be taken care as may be they discontinue this product at all.
Starbucks is growing so fast and they are the market leaders in here. The point is the big giants never stop in this case. We can see that they are looking to enter into superstores with this product, as the reason is they want to expand and looking for more people to come across and make loyal customers. This innovation will help the people to develop their taste and that is the reason they are looking for the launch.
Looking at the all five Product Characteristics Relative Advantage, Compatibility, Complexity, Trialability and Observability we can see that there is interest of Starbuck in fulfilling these all. The company needs to grab the relative advantage over the other companies who are not introducing this kind of coffee. The compatibility can also be seen as they have the better name in the market and they are compatible as well. Looking at the complexity yes, there will be specific and complex people who will use this, as they will feel uniqueness in this aspect.
The Trialability is also used by the company, as may be the try the product and it would be limited time offer. We are more attracted to this product so that we know it will be diminished with time. However, looking at Observability I come to know that the potential customers do observe that there is an innovation in the product and that is the reason they feel positive about the product. This can be seen in here at a large view.
Looking at the brand name or the brand identity, in my opinion, I would say that it is a good name indeed for the Starbuck. However, it needs to be noted that the brand identity is very important in this aspect but the company has moved so far and doing so good that they are well known in the market all over the globe. Yes, in my opinion, the brand name with appropriate brand identity is important and Starbuck is one of them.